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JPMorgan Chase: Bitcoin network computing power increased slightly in March, mining economics declined

Online reports, according to CoinDesk, a research report released by JPMorgan Chase (JPM) on Monday showed that in the first two weeks of March 2025, Bitcoin network computing power increased by 2 EH/s, reaching an average of 811 EH/s. The report pointed out that U.S. listed mining companies maintain approximately 30% of their online computing power share. At the same time, the average price of Bitcoin fell by about 10% during the period, putting pressure on the economics of mining. The power price (a measure of daily mining profitability) remained basically unchanged compared with the end of last month. In the first two weeks of March, miners 'daily block reward income per EH/s was approximately US$48,300, a decrease of 11% from February and a decrease of 52% from the halving event in April last year. The total market value of the 14 U.S. listed mining companies tracked by JPMorgan fell 13% from the previous month, to approximately US$3 billion. Among them, Argo Blockchain (ARGO) performed the best, up 1%, while Cipher Mining performed the worst, down 25%. The report added that during the same period, only one of the mining companies covered by the bank performed better than Bitcoin.

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